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With the promotion to CEO of TAP, Ramiro Sequeira will begin to earn nearly double what he earned in the previous position of Chief Operating Officer. The increase in charge meant a salary increase to 35 thousand euros gross per month, but the amount is less than the 59 thousand euros that his predecessor, Antonoaldo Neves, earned monthly.
The news was initially presented by the newspaper Eco and highlighted by Correio da Manhã this Tuesday. Ramiro Sequeira received as operational director 12 thousand euros gross per month, to which were added almost 6 thousand euros of salary supplements. The salary becomes 35 thousand euros gross, retroactive to September 17, the annual total going from 238 thousand euros to 490 thousand euros gross.
The Minister of Infrastructure, Pedro Nuno Santos, reaffirmed on December 15, during a hearing in parliament, that the governing bodies of TAP, which include the Board of Directors and the Executive Committee, will have a 30% salary cut due to the new restructuring plan.
Once the new CEO is elected, Ramiro Sequeira is expected to resume his previous functions, but with the possibility of remaining as a member of the TAP Board of Directors, so the salary adjustment will have to be negotiated later.
The salaries of two other members of the TAP Board of Directors, Miguel Frasquilho and Alexandra Vieira Reis, were reviewed. The salary update was taken in October by the TAP salary committee, where the State is not represented, and was endorsed by the Government, which drew up the company’s restructuring plan, which provides for some two thousand layoffs.
Miguel Frasquilho, Chairman of the Board of Directors of TAP SA and TAP SGPS, began to receive 13.5 thousand euros gross per month, compared to the previous 12 thousand euros. The increase is due to the new functions assumed in Portugália and TAP SGPS, due to the departure of Humberto Pedrosa due to incompatibility issues.
Alexandra Vieira Reis, who was already the director of TAP and earned 14 thousand euros per month, now goes to the administrator. The entry into the Executive Committee earned him a salary update to 25 thousand euros per month.
Esmeralda Dourado, who is a non-executive director, is now receiving no remuneration as she opted for retirement. José Silva Rodrigues also joined the TAP administration, but is not paid.
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